#美联储回购协议计划 ZEC from 440 to 498 to 570——A Self-Help Checklist for Short Sellers Facing Liquidation

Recently, ZEC's movement has been quite fierce. It surged from around 440 straight up to 570, leaving almost no room for breath in between. How do those caught short feel now? Holding positions, facing liquidation, or even hesitating whether to add to their shorts—you all are here.

First, recognize the reality and don't deceive yourself. The data is right in front of you. Currently, short positions around 470 on ZEC are indeed uncomfortable. But behind this rapid surge, there are actually opportunities. The cost of this sharp rise is the short-term exhaustion of bullish momentum, pushing market sentiment into extreme euphoria. History tells us that after such extreme enthusiasm, a correction or consolidation usually follows. When the consolidation arrives, it’s the window for those trapped in positions to unwind.

Which stage is your position at now?

**Scenario 1: The position hasn't been liquidated yet, but it's already very risky**

At this stage, the most important thing is not to add more positions or to hold stubbornly, but to immediately reduce leverage. Lower your leverage ratio first, so your position can withstand subsequent volatility without instantly being wiped out. If you have available funds, you can add small amounts of shorts near key resistance levels in batches to average down your cost, but—this is crucial—each trade must have a stop loss. The purpose of adding to your position is to give yourself a chance to fully exit during a pullback, not to fight the market to the bitter end. Once there are signs of a price decline, prioritize reducing your position and exiting. Breaking even or taking a small loss is a win. Staying alive is more important than anything.

**Scenario 2: Already liquidated**

Take a deep breath. Liquidation is not the end of the game; it’s a costly lesson the market has taught you. Since you’ve paid the tuition, you should learn something valuable from this experience.

Step one: Leave your trading software and give yourself time to cool down. Don’t be driven by the panic to immediately go all-in to recover losses—that will only make things worse.

Step two: Take stock of how much capital you still have left. If you have available funds, start again with a very small position, carefully and gradually, to regain your rhythm and rebuild your confidence. If your funds are exhausted, stop trading for now and reflect on this lesson. Why did you lose? Was it because you didn’t set a stop loss or set the leverage too high? Was it emotional loss of control or flawed analysis?

Before opening your next position, ask yourself three questions: Have I set my stop loss? Is my leverage within my risk tolerance? Can I accept a liquidation on this trade?

**A message to all trapped traders**

In the world of contract trading, being caught in a position is almost inevitable for everyone at some point. The real risk isn’t in being caught once or twice, but in losing your composure afterward—blinding yourself with more leverage, struggling harder as losses mount. The market itself is in eternal fluctuation. As long as your principal remains and your mind stays clear, opportunities to turn things around will come sooner or later. The same applies to this ZEC move—don’t see this as a personal failure. Instead, view it as a paid course the market is giving you. Learn thoroughly from it, and next time, it will be your turn to harvest.